In installing Google Analytics you may notice that your account remains in a waiting to receive data state. Although Google Analytics has been recognized and installed correctly a small correction must be made to the source code of the Mage code.

You will want to edit the following file:
app/code/core/Mage/GoogleAnalytics/Block/Ga.php

…And add this simple line of code to line 179 in order to resolve the issue.

var _gaq = _gaq || [];

This issue has been reported and resolved already by the Magento Team through Issue #21456